China's January home prices continue to rise in first-tier cities

Home prices in China's first-tier cities continued to increase in January, signaling a continued stabilization of the country's housing market.

According to the latest data released by the National Bureau of Statistics, new and second-hand residential property prices in these cities – Beijing, Shanghai, Guangzhou and Shenzhen – maintained an overall upward trajectory with month-on-month increases of 0.1 percent. 

In second-tier cities, the price of newly built homes also increased by 0.1 percent month on month, marking the first uptick since June 2023. 

Meanwhile, second-hand housing in these cities saw a slight dip, falling by 0.3 percent month on month, the same rate as the previous month. 

Overall, home price declines across first, second and third-tier cities have continued to narrow on a yearly basis.